Way over budget mistakes, tenant stories, misinterpreted area comps, prolonged vacancies that could have been prevented?

Looking for advice regarding potential inheritance split. 

The HOA doesn't prevent it, so that's already cleared.

With an LLC, only the assets inside the LLC are at risk, not everything you own.Why One LLC Per Property is a Stronger StrategyMany investors use one LLC per property to separate liabilities and prevent one lawsuit from affecting their entire portfolio.✔ Each property is legally isolated—a lawsuit against one doesn’t affect the others.✔ It limits exposure—creditors can’t go after assets held in other LLCs.✔ Easier to sell or finance properties separately.🔹 Alternative: Some investors group multiple properties in one LLC for simplicity, but this increases risk—if one lawsuit hits, all properties in that LLC could be exposed.Why an Asset Management Limited Partnership (AMLP) is a Better Choice for ManagementInstead of using a separate management LLC, a stronger structure is to place all your rental LLCs under an Asset Management Limited Partnership (AMLP).✔ The AMLP centralizes control—you manage your properties from one entity without personally owning them.✔ It provides an extra liability firewall—the AMLP owns the LLCs, preventing direct lawsuits against you.✔ Keeps operations separate from property ownership—reducing legal risks from tenant disputes.✔ Strongest legal structure in Texas—LLCs roll up into the AMLP, keeping your name off public records.📌 Best Setup for Maximum Protection in Texas:1️⃣ Each rental property in its own LLC – Shields assets from each other.2️⃣ An Asset Management Limited Partnership (AMLP) – Owns the LLCs and manages them, keeping liability separate.3️⃣ Bridge Trust® for high-net-worth investors – If you scale up, this structure protects your entire portfolio from lawsuits.Final TakeawayWhile an LLC isn’t required to rent a property, it’s one of the best ways to protect yourself from lawsuits.

Originally posted by Account Closed:and that in turn is the whole reason why mortgages (deeds of trust) employ due-on-transfer acceleration clauses to prevent the collateral (property) the mortgage loan was secured against.  

I am also the sole provider of a family of five, which has really prevented me from jumping in the real estate game. 

I currently live in Colorado and I have run into a huge obstacle preventing me from being approved to buy out of state. 

Also, is there a clause I can add to the lease to protect us from potential bankruptcy?

How easy is it for the tenant to lock you out and prevent you from gaining access?

Something to that effect completes the loop if the objective is to prevent issues versus responding to complaints and alerts.